The proposed bill establishes a tax credit program for owners of resilient buildings in Florida, specifically those with certain Leadership in Energy and Environmental Design (LEED) certifications. Owners can apply for a tax credit against their tax liability, which is limited to one claim per building. Applications must be submitted to the Department of Business and Professional Regulation by March 1 of the year following the building's LEED certification, and the department is authorized to accept these applications electronically. The tax credit amounts vary based on the level of LEED certification and can be claimed for up to five years, with provisions for carrying forward or transferring any unused credits. Additionally, the bill creates the Florida Resilient Building Advisory Council, which will provide recommendations to improve resilient building practices and hurricane resiliency in the state. The council will consist of members from various educational institutions and sectors related to building design and sustainability, appointed by state officials. The bill includes several amendments to existing Florida statutes, such as providing administrative assistance in performing its duties to the advisory council and establishing that this section will be repealed on October 2, 2028, unless reviewed and saved from repeal through reenactment by the Legislature. It also allows the Department of Revenue to share tax credit information with the Department of Business and Professional Regulation under confidentiality agreements and modifies the order of tax credits applied against corporate income and franchise taxes, adding those enumerated in s. 220.197 and updating the definition of adjusted federal income to include the amount taken as a credit for the taxable year pursuant to s. 220.197. The act is set to take effect on July 1, 2025.

Statutes affected:
S 62 Filed: 213.053, 220.02, 220.13
S 62 c1: 213.053, 220.02, 220.13